World Bank approves programme to support Indian MSME sector

In order to support the MSME sector of India, which has been deeply impacted by the covid 19 pandemic, the World Bank’s board of Executive Directors has approved a 500 million dollars programme. The performance of 5,55,000 MSMEs will be targeted for improvement and is expected to mobilise financing of 15.5 billion dollars.The Indian Space Research Organisation has developed 3 types of ventilators and is willing to transfer the technology with the industry for usage amid covid 19. The three ventilators are PRANA, VaU, and SVASTA.India aims to launch its revamped DigitalSky platform by the end of 2021. This will enable automated registration and flight approvals for drones in compliance with the Unmanned Aircraft System Rules,2021.E-commerce platform Flipkart is planning to raise 3 billion dollars and is in talks with several investors for the same. The investment will value the Walmart backed company at 35 billion dollars, ahead of its Initial Public Offering next year.Due to an abuse of power in online advertising, Google has agreed to pay 268 million dollars to settle a French antitrust investigation. Alongwith the fine, Google has promised to change the situation by improving the ad model.Popular dating apps like Bumble, Tinder and Hinge have launched a campaign encouraging the users to post I got my shot on their profiles. The step has been taken to encourage young adults to get vaccinated. The apps will offer stickers, badges and bonuses for the users who will post.Tata group’s subsidiary, Tata Digital will invest 75 million dollars in Bengaluru headquartered fitness startup CureFit. CEO of CureFit, Mukesh Bansal will join Tata Digital as president and will continue his leadership role in CureFit.Mumbai based Telemedicine startup Truemeds has raised 5 million dollars in a Series A funding round led by InfoEdge Ventures, Asha Impact and Indian Angel Network. The funds will be used for market expansion, product and technology.Digital payments startup Cashfree has raised an undisclosed amount from the State Bank of India. Some investors that back Cashfree are Apis Partners, Smilegate and Y Combinator.Due to the rise in the popularity of Cryptocurrency and the increase in the customers, the attacks on the crypto currency users has quadrupled in the first quarter of 2021. The attackers installed malicious programmes called Minors to steal Crypto currency from infected devices.#MSME #worldbank #500millionprogram #ISRO #ventilators #covid19 #covid #Coronavirus #DigitalSky #Deeptech #Drones #Droneinindia #digitalskyplatform #Flipkart #ecommerce #flipkartfunding #onlineadvertising #Google #FrancefinesGoogle #Bumble #Tinder #bumblevaccinated #Tatagroup #TataDigital #CureFit #MukeshBansal #Telemedicine #Truemeds #InfoEdgeVentures #truemedsfunding #Cashfree #Digitalpayments #Cryptocurrency #crypto #askmentor #mystartuptv #majorsunilshetty #startupchannel #startupnews #startupindia #MSMEnews #makeinindia #madeinindia

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